Order Routing

SEC Rule 606 Report Disclosure

Effective Date:

Last Modified:

SEC Rule 606 requires all broker-dealers that route orders in equity and option securities to make available quarterly reports that present an overview of their order routing practices. The report requires us to identify the significant venues to which client orders were routed for execution during the previous quarter and disclose the material aspects of the broker-dealer’s relationship with such venues. In addition, the rule requires broker-dealers to disclose, on customer request, the venues to which the customer’s individual orders were routed. Upon written request, Fortress Private Ledger, LLC will provide information related to specific client orders that were routed for execution in the past six months. This information will include the market participant to which the order was routed, whether the order was directed or non-directed, and the time of the transaction, if any, that resulted from such order.

Our firm routes 100% of retail non-directed orders (defined as “held” orders) in National Market System (NMS) equities and options to our clearing broker, Interactive Brokers LLC. We do not receive payment for our retail non-directed order flow executed through Interactive Brokers LLC. Ultimately, routing discretion may be exercised by the executing broker to which customers sent their non-directed orders. In order to assist you in understanding how these brokers handle nondirected orders we provide links to their detailed 606 reports.